VC fund (Cat II) · SEBI registry
Maharashtra Defence and Aerospace Venture Fund
Early stage (Pre-Series A) · MSME & SME finance · Mumbai
At a glance
- Stage focus
- Early stage (Pre-Series A)
- Primary sector
- MSME & SME finance
- City
- Mumbai
- HQ / office
- Ballard Estate / Cuffe Parade, Mumbai, Maharashtra (IDBI Capital, investment manager)
- Fund registered
- 2018
- Investments on record
- 7
- Corpus (as reported)
- Rs 480 cr committed to 27 MSMEs (~Rs 406 cr invested in 22), per IDBI/MDAVF disclosures (2025)
- Profile ↗
About
The Maharashtra Defence and Aerospace Venture Fund (MDAVF) is a SEBI Category II AIF trust settled by MIDC with IDBI Trusteeship as trustee and IDBI Capital Markets & Securities as investment manager; it backs defence/aerospace MSMEs and startups in Maharashtra and has reported multiple exits.
Investment focus
Startups & MSMEs in defence, aerospace and allied sectors (Cat II AIF); equity, equity-linked, convertibles and debentures
SEBI registration
SEBI AIF Category II — reported as “Cat II”
- IN/AIF2/18-19/0578
SIDBI Fund of Funds
Yes — Settlor is Maharashtra Industrial Development Corporation (MIDC), a Government of Maharashtra entity; state-govt-sponsored fund for defence/aerospace in Maharashtra (idbicapital.com)
Notable portfolio
Dimension NXG (AjnaLens); Rappid Valves (India); Aman Aviation & Aerospace Solutions; Ayaan Autonomous Systems; Paras Defence and Space Technologies; Sagar Defence Engineering; FFS Industries
Team & organisation
Trust under Indian Trusts Act 1882; SEBI Category II AIF (Reg. IN/AIF2/18-19/0578). Trustee: IDBI Trusteeship Services Ltd; Investment Manager: IDBI Capital Markets & Securities Ltd
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Frequently asked
- What does Maharashtra Defence and Aerospace Venture Fund invest in?
- Startups & MSMEs in defence, aerospace and allied sectors (Cat II AIF); equity, equity-linked, convertibles and debentures
- How do I pitch Maharashtra Defence and Aerospace Venture Fund through iHub India?
- Create a free startup account, open a funding round, and send a structured pitch from this profile. If the investor accepts, contact details are shared and the conversation moves into a tracked deal room.
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About this record
- ⚑ government-sponsored (MIDC) defence/aerospace venture & MSME fund (Cat II)
Compiled from SEBI registrations and public sources as of 2026-07. iHub India lists investors neutrally and does not endorse, rank, or verify investment terms — confirm all details directly with the investor before transacting.
Sources: https://idbicapital.com/aif/Maharashtra-Defence-and-Aerospace-Venture-Fund.html; https://tracxn.com/d/venture-capital/maharashtradefenceandaerospaceventurefund/__oTcgdBn_ecRYSYJKZ3wg9sWOLg3Vpmdmg1Kb4CarHoQ